Stocks in Mumbai faced selling pressure after consumer inflation rebounded to a 4-month high and foreign investors lowered their stakes in pharmaceuticals and banks.
Stocks in Mumbai lacked direction, but benchmark indexes retained an upward bias in early trading. Investors turned cautious ahead of rate decisions from major central banks later in the week.
Stocks in Mumbai traded higher following the market rally in the previous six consecutive weeks. The Hang Senge Index in Hong Kong dropped to a 14-month low after consumer prices in China declined at the fastest pace in three years.
Market indexes advanced for the third day in a row led by stocks in the energy, financial services, real estate and manufacturing sectors. Crude oil prices in international markets dropped to a 5-month low after exports from the U.S. surged to a record high.
Market indexes extended gains amid lingering positive sentiment following state election results. Crude oil edged lower, and gold retreated from a record high.
Market indexes advanced after the BJP won a comfortable majority in Rajasthan, Chhattisgarh, and Madhya Pradesh. Crude oil edged lower, but gold soared to a record high following the ongoing weakness in the U.S. dollar.
GDP in the September quarter expanded at a robust pace after government spending rebounded and the manufacturing and construction sectors expanded in double-digits, but consumer spending rose at a sharply slower pace.
Stocks in Mumbai advanced, and the initial public offerings of Tata Technologies, Gandhar Oil, and Fedbank Financial Services advanced on the first day of trading.
Stocks in Mumbai advanced and tech services providers, power sector stocks, and consumer-focused stocks led the gainers list. Gold jumped to a seven-month high in international trading following the decline in the U.S. dollar.
Stocks in Mumbai traded sideways, and the rupee hovered near its record low. Crude oil prices retained a downward bias ahead of the OPEC+ meeting on Thursday.
Markets in Asia traded higher following the gains in New York in Friday's trading. China property stimulus measures to support first time home buyers and halt a slide in yuan lifted market sentiment.
Stocks turned lower in Shanghai and Hong Kong after mainland consumer inflation dropped to near zero in April on weak demand for goods and wholesale inflation fell deeper in deflation.
Asian and European markets closed for a three-day weekend and stocks in Tokyo traded higher in thin trading. Factory activities in China declined but in India accelerated in April. South Korea's exports fell for the seventh month in a row and Taiwan's economy contracted in the first quarter.
